On CNBC’s popular financial program ‘Mad Money Lightning Round,’ Jim Cramer, the outspoken host, offered his insights on several stocks, including Wells Fargo, Iron Mountain, Palantir, and PG&E.
Cramer declared Wells Fargo a ‘winner’ and predicted further growth for the San Francisco-based bank. This bullish outlook follows Wells Fargo’s recent expansion of its API portfolio with specialized APIs designed for Commercial Banking clients. These APIs provide real-time data access, aiming to boost sales, improve liquidity, reduce credit risk, and optimize expenses for clients in various industries.
However, Cramer expressed a less enthusiastic view of Iron Mountain, stating that the stock has already experienced a substantial upward move. He advised investors to wait and see. This comes after Iron Mountain announced better-than-expected second-quarter financial results, surpassing estimates for FY24 AFFO guidance and increasing its quarterly dividend.
Regarding Palantir Technologies, Cramer labeled the stock ‘cold.’ Nevertheless, Palantir recently secured a multi-year, multi-million-dollar contract with Nebraska Medicine. Under this agreement, Palantir will utilize its Artificial Intelligence Platform (AIP) to enhance healthcare through transformative technologies.
Despite recent stock price fluctuations, Cramer recommended buying PG&E Corporation, asserting that the stock is ‘a good one, rate increase or no.’ This positive stance follows analyst Ross Fowler’s reinstatement of PG&E with a Buy rating and a $24 price target.
It’s important to note that these are just opinions from a well-known financial commentator. Investors should always conduct their own research and consult with a financial advisor before making any investment decisions.
